BankORION Announces Annual Shareholders Meeting
2018 was a year of record earnings.
Orion, IL, March 21, 2019: The 128th annual meeting of the shareholders of Orion Bancorporation, Inc. was held on Monday, March 18, 2019 at The Quad City Botanical Center, Rock Island.
President and CEO Matthew P. Bollinger informed stockholders that during 2018, assets grew to $453 million. The company ended the year with $280 million in outstanding loans, an increase of 7%. Total equity capital amounts to $53 million up 4% from 2017. 2018 was a year of record net income, partially the result of favorable loan growth.
Bollinger reviewed progress made on a number of topics including the bank’s record earnings, strategic initiatives, the investment division, InvestORION, and new technologies.
The board of directors of BankORION and its parent company, Orion Bancorporation, Inc. announced the retirement of Charles H. Langman and Jerry L. Goddard from the board of directors. The shareholders elected Brad Keleher to the board of directors. The board of directors then appointed Gerald ’Jerry‘ D. Johnson to the board of directors. The board of directors also promoted Max A. Mercer to Commercial Banking Officer.
Chuck Langman and Jerry Goddard served on the board of directors for BankORION and Orion Bancorporation, Inc. since their appointments on March 18, 2002 and March 18, 2013, respectively. Brad is a retired engineer from John Deere. His father, Daniel R. Keleher, is a former member and chairman of Orion Bancorporation Inc.’s board of directors. Jerry also retired from John Deere as an accountant and is now the CFO of Moline Forge. His father, LaVerne M. Johnson and his aunt, Mary Ann Long, were both dedicated long term officers of BankORION. Max graduated from the University of Iowa with a Bachelor of Business Administration with a major in Business Management and started with BankORION in 2017 as a Commercial Credit Analyst.
In addition to Brad Keleher and Jerry Johnson becoming new members of the board of directors, the shareholders re-elected Matthew P. Bollinger and Douglas R. Nelson to the board of directors for three-year terms. Other directors include, James R. Dingman, Timothy J. Fritz, Alan F. Wright, Daniel J. Wahlheim, and DeAnne C. Bloomberg.
The board re-appointed the following other BankORION senior officers: Matthew P. Bollinger, President & CEO, Timothy J. Fritz, Senior Vice President & Chief Lending Officer, Cindy S. Bender, Senior Vice President & Chief Financial Officer, Scott A. Gilbraith, Senior Vice President, Larry L. Greim, Vice President & Cashier, Sharon K. Warner, Vice President & Human Resources Director, Daniel J. Cusack, Vice President and Information Systems Officer, Andrea A. Bobb, Vice President, Compliance Officer & Internal Auditor, Emily H. Snell, Vice President (Orion), Mark A. Johnson, Vice President (Cambridge), Kevin T. Schoonmaker, Vice President & Business Development Director (Moline), Mark L. ‘Butch’ McCreight, Vice President (Moline), Janeane M. Minnaert, Vice President (Annawan), Rex A. Johnson, Vice President (Aledo), and Barrett C. Scorpil, Vice President (Bettendorf).
Headquartered in Orion, IL, BankORION has over 128 years of experience in financial services. BankORION has seven locations including Orion, Cambridge, Moline, Aledo and Annawan, Illinois as well as Bettendorf, Iowa.